In the case of an inferior good, the income elasticity of demand is :

Related MCQs

• If a good has negative income elasticity and positive price elasticity of demand, it is a
• For an inferior good, demand falls when -
• When the demand for a good increases with an increase in income, such a good is called -
• Elasticity of demand is the degree of responsiveness of demand of a commodity to a -
• The income elasticity of demand being greater than one, the commodity must be -
• What will be the effect on inferior commodities when income of the consumer rises?
• The demand of a commodity is a direct demand but the demand of a factor of production is called a -
• The demand for two or more commodities or factor of production that are used together so that a change in demand for one will be reflected in a change in demand for other e.g., cloth and thread is called
• A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to -
• Cross elasticity of demand between petrol and car is -